Ethical considerations in AI development involve ensuring fairness, transparency, and accountability in AI systems. It is crucial to avoid bias in training data that can lead to discriminatory outcomes, which affects marginalized groups disproportionately. Developers must also consider privacy issues related to data collection and usage, ensuring compliance with regulations like GDPR. Another key aspect is the impact of AI on employment, necessitating discussions about job displacement versus new opportunities. Furthermore, creating mechanisms for accountability is essential to address failures or unintended consequences caused by AI systems.